Bill > SB2359

This bill amends the Motor Fuel Tax Law to prevent a scheduled tax increase on July 1, 2025, which would have been based on the Consumer Price Index (CPI), a measure of the average change in prices of goods and services purchased by urban consumers. Specifically, the bill modifies the existing law that previously mandated annual motor fuel tax rate adjustments on July 1st based on the CPI, with the 2025 increase being specifically cancelled. The CPI adjustment mechanism typically works by comparing the average price index for the most recent 12-month period to the previous 12-month period, calculating the percentage change, and then applying that percentage increase to the motor fuel tax rate, rounded to the nearest one-tenth of a cent. By blocking the July 1, 2025 increase, the bill effectively maintains the motor fuel tax rate at its level before the scheduled adjustment, providing potential relief to consumers and businesses by preventing an automatic tax hike.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2359&GAID=18&DocTypeID=SB&SessionID=114&GA=104